In December 2015, representatives from 195 countries created history in Paris, by agreeing to a comprehensive climate change deal that will commit nearly every country to lowering planet-warming greenhouse gas emissions besides giving a boost to clean energy business.

Long-Term Goal – The long-term goal of the agreement is to send a strong signal to world capitals and financial markets that fossil fuels like coal and oil are on their way out, and that there needs to be a massive scaling up of investments in clean energy.

Loss and Damage – The agreement directs countries to create a process to address losses and damage from unavoidable climate impacts.

On the occasion of Mahatma Gandhi’s birth anniversary, October 2 2016, Prime Minister Narendra Modi announced that India would ratify the Paris Agreement. This move has been appreciated by environmentalist as India is world’s third largest emitter of greenhouse gases.

To cut down emissions, India has pledged to increase its clean energy share — solar and wind — by 40% by 2022.

By ratification, India has shown that it is a serious global player in climate negotiations.

The pact will come into force after it has been ratified by at least 55 countries which account for 55 per cent of global greenhouse gas emissions. With India’s move, a total of 62 countries accounting for almost 52 per cent of emissions have now ratified the accord.

“India’s leaders are standing shoulder to shoulder with the global community on climate change, a common challenge that unites us all,” Manish Bapna, Executive Vice President and Managing Director, World Resources Institute (WRI).

This step will make India move quickly to achieve its ambitious renewable energy goals.